Pacira Pharmaceuticals Inc (PCRX)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 636,266 | 626,907 | 541,533 | 429,647 | 421,026 |
| Total assets | US$ in thousands | 1,574,390 | 1,681,200 | 2,075,350 | 1,274,510 | 831,065 |
| Total asset turnover | 0.40 | 0.37 | 0.26 | 0.34 | 0.51 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $636,266K ÷ $1,574,390K
= 0.40
Pacira BioSciences Inc's total asset turnover has fluctuated over the five-year period analyzed. The ratio indicates the company's ability to generate sales revenue from its assets. In 2023, the total asset turnover ratio was 0.43, showing an improvement from the previous year (0.40 in 2022). This suggests that the company was able to generate more sales relative to its total assets in 2023.
Comparing to 2021 and 2020, where the total asset turnover ratios were 0.26 and 0.34 respectively, there was a significant improvement in the efficiency of asset utilization in 2023. However, the ratio was lower than in 2019 when it stood at 0.51, indicating a decrease in sales generated per unit of asset compared to the previous high level.
Overall, the trend in total asset turnover for Pacira BioSciences Inc shows some volatility, with fluctuations in the efficiency of converting assets into sales revenue. It is important for the company to continue monitoring and managing its asset utilization to optimize its performance and financial health.
Peer comparison
Dec 31, 2023